I've been neglecting my duties as sole keeper of this board this week. Welcome on board and now you are the official joint owner of this board - lol.
I've had the red carpet out for the Chinese now for quite a few months and they are a bit slow putting their feet forward, but surely think they will.
There aren't too many worries with this share, just a couple of biggies - Krygyz government and funding.
The government are very unpredictable and are in current negotiations with Centerra re. Kumtor mine - October I think they are meant to conclude a new deal to appease the rampant locals.
Funding - that was, to me, the main reason we didn't go for early small-time production this year. If things had gone wrong and we weren't selling gold straight away, we could have been caught short. The DFS is meant to pave the way for easier funding probably through a JV (or buyout). This Mac DeGuire, recently appointed, is meant to be the business on this, so IMO can't see funding too big a problem if market sentiment on miners doesn't get any worse than it has over the last few years.
We've certainly got a great resource which is commercial to dig up. The directors are in with miles higher averages than today and would want absolute minimum of 32p in a sellout, more like 50p for most of them to break even.
Bit of selling lately by Blackrock but can't see why and it's not huge and it's sporadic.
You're kidding me right? Not that great value? What do you want, blood?
Had a quick look at CNR and, according to my research its NAV (@ 31.12.2012) is 7.78p which would make valuation more than 10 x book value! Hardly cheap if I'm correct. So where did your figures come from? Also, what are these other goldies at a sixth of their NAV?
Yep me too. Reckoned I should make my move so bought in on Monday. Patience will be required but I don't want to miss out on the Chinese announcement which could come at any time - could be next week could be after the DFS next year? But I can wait. I have a 1-2 year minimum timeline here. Don't feel there is much if any downside left from the 9p level.
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